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This is the first book that INSOL International has published that covers tax issues. We have accepted that in most countries tax issues and tax treatments change constantly and that tax laws are changing sooner than some of the other laws. We decided however not to be deterred by these constant changes and move on to produce this book as INSOL’s objective was wider. The book aims to provide...

This book is the latest addition to our list of publications and it provides basic information on Islamic finance. It is meant to be a useful reference tool to the majority of insolvency practitioners who do not work in this field. The chapters in this book were selected on the basis that it is expected that most INSOL members currently have very limited understanding of Islamic finance....

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Italy’s Five Star Calls for EU Push on Restructuring Public Debt

A top economic adviser to Italy’s anti-establishment Five Star Movement has called on the EU to debate restructuring public debt — comments that could unnerve investors and highlights the unorthodox economic views of the party leading the country’s polls, the Financial Times reported. With three weeks to go before the nation’s general election, Lorenzo Fioramonti, an aide to Luigi Di Maio, the Five Star candidate for prime minister, said the “time is right” for a “conversation” around debt restructuring in Italy and “several other” countries. Italy’s public debt exceeds 130 per cent of gross domestic product. “We can be pioneers of change in a European system that is ripe for change,” Mr Fioramonti said. “I don’t want this to be perceived as all we are interested in is getting an easy way out.” While an Italian sovereign restructuring would be intended to ease the fiscal burden and reduce government interest payments, the sheer size of the country’s €2.3tn debt load could mean a big risk of a market backlash as well as political objections from Brussels and Berlin. Read more.(Subscription required.)